PSEG Chief Operating Officer Ralph LaRossa agreed. “Alongside PSEG nuclear plants, the New Jersey Wind Port will establish South Jersey as the heart of New Jersey economy,’’ he said. “By supporting the development of renewable energy and offshore wind power, this lease will establish New Jersey as the destination for clean energy development, operations, training, skills and innovation.’’
New Jersey has approved three wind projects, including two by Ørsted, one of the largest offshore wind developers, and another by New Shell Ventures and EDF Renewables — all in the Atlantic Ocean. The Murphy administration wants to develop 7,500 megawatts of offshore wind capacity by 2035.
Along the East Coast, offshore investment through 2035 is anticipated to exceed $150 billion, according to the EDA.
“The first rule of real estate and offshore wind is location, location, and location,’’ said Doug O’Malley, director of Environment New Jersey. “The New Jersey Wind Port is uniquely positioned to jump start the state’s offshore wind industry and offshore wind in the region.’’